NABARD extends Rs 16,000 cr loan to NRRDA

New Delhi, Sept 26 (UNI) The National Bank for Agriculture and Rural Development (NABARD) will provide a loan of Rs 16,000 crore to National Rural Roads Development Agency (NRRDA) under the flagship programme of Bharat Nirman.

The loan wil be provided over the period of four years out of a special window created under Rural Infrastructure Development Fund (RIDF), which was set up NABARD in 1995-96 for funding rural infrastructure in the country.

The loan will be over and above the normal programme of RIDF for a wide spectrum of various other purposes of infrastructure requirement in rural areas, NABARD said in a statement.

The bank has already sanctioned loans worth Rs 64,000 crore to various state governments for implementation of nearly 2.6 lakh rural infrastructure projects.

UNI